During the introduction of the 0x revolution ,a newly generation of decentralized exchange such as the DExs have already taken the whole root.
This decentralized exchanges came into the crypto world to help address the challenges that was existing with this old DExs but they where still lacking the capabilities of many of the numerous leading centralized exchanges.
Great number of people that are looking for a margin trading platform were still forced to funnel their liquidity to centralized token and the coin exchange system and this is very dangerous because it can lead to an additional form of counterparty risk.
The most difficult challenge is the issues of being able to found a reliable oracle that can match settlement security of any centralized exchange.
This is where the bZx platform comes into the ecosystem of exchanges to able to solve all this pressing and difficult challenges.
The bZx protocol serves as an on-chain solution to all these challenges. It will also create an oracle marketplace where the oracle provider compete and at same time allowing the providers and the users to select the trade offs tailored to the individual.
THE BZX PROTOCOL OVERVIEW
This is a decentralized margin lending protocol that is based on the ethereum blockchain and it is fully integrated with the use of the 0x protocol.
It has a decentralized web application that serves mainly as a frontend for the bZx protocol.
The platform makes use of the bZx.js library and it also serve as shop for people who would like to make use of the platform for lending and trading purposes.
This platform is a peer to peer decentralized funding and trading protocol and it is the first of its kind.
The bZx platform is not an exchange medium but it acts as a protocol which can be integrated into an exchange to be able to make trading process faster and more seamless.
In terms of exchanges,there are incentivized by fees and with the token serving as the denominator which helps to provides trading and lending services.
The platform has oracle providers which serve as media for valuation and liquidation of assets. The bZx platform bridges centralized and decentralized liquidity pools with the help of the tokenization margin loans.
With the bZxs universal liquidity ,the users get direct access to the whole entries margin lending market.
THE BZX TOKEN
The bZx platform is a full utility token and this token specifically serves two important major functions and they include
Full control and governance of the bZx protocol through relays. The token work for bZx protocol is also same way the ZRX token work for the 0x protocol.
The main function of these both tokens is simply to be able to co ordinate networks of rational economic agents around a protocol.
All this is carried out in order to facilitate the addition of continuous and decentralized updates to the protocol.
THE ROADMAP
TOKEN DISTRIBUTION
5% to the advisors
10% to an incentive fund
15% to members of the founding team
20% to the development fund
40% to the TGE
THE THREE BZX PROTOCOL
These protocols include
(1)Bzx portal:.. This is a different electronic dApps which is at the front end of Bzx arrangement and it also offers others options for getting to the stage through current trade, with the help of there particular protocol,banks and also dealers can be able to make and take arrangements and also usage of the credits.
(2)Bzx.js library:.. This protocol is a java script library that is used to co ordinate Bzx to an existing transfers and traders and also make the front end interface for clients to get financing on decentralized traders.
(3)Bzx smart contract:.. This protocol is in charge of overseeing assets,arranges and also encourage a decentralized administration structure of the usage.
CONCLUSION
The bZx platform is really great project with awesome concept. The platform is out to help the whole crypto world to become successful in every aspects of exchange of currency and also as well as trading of goods.
This platform is very interesting and it has been useful in all aspect as it helps to facilitate processing of trading activities through the provision of loans and other financial assistance that encourages investors all over the globe.
USEFUL LINKS
Website-- https://b0x.network/
Whitepaper-- https://b0x.network/pdfs/b0x_White_paper.pdf
Telegram--- https://t.me/b0xNet
Twitter--- https://twitter.com/b0xNet
Bounty0x username--- ifeoma419
This article was created in exchange for a potential token reward through bounty0x.